Cohen & Steers (NYSE:CNS) Reaches New 12-Month Low After Earnings Miss

Posted by Defense World Staff on Oct 20th, 2023

Shares of Cohen & Steers, Inc. (NYSE:CNS – Get Free Report) hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $51.55 and last traded at $51.89, with a volume of 9520 shares traded. The stock had previously closed at $54.40.

The asset manager reported $0.70 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.04). Cohen & Steers had a return on equity of 46.02% and a net margin of 28.16%. The company had revenue of $123.74 million during the quarter. During the same quarter last year, the business earned $0.92 earnings per share. The company’s quarterly revenue was down 11.6% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Monday, August 14th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Friday, August 11th. Cohen & Steers’s payout ratio is currently 78.35%.

Analyst Ratings Changes

CNS has been the topic of a number of research analyst reports. TheStreet raised Cohen & Steers from a “c+” rating to a “b-” rating in a report on Thursday, August 31st. StockNews.com assumed coverage on Cohen & Steers in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Get Our Latest Stock Report on CNS

Insider Transactions at Cohen & Steers

In other news, CAO Elena Dulik sold 1,950 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $66.12, for a total value of $128,934.00. Following the transaction, the chief accounting officer now owns 20,427 shares of the company’s stock, valued at $1,350,633.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Dupont Capital Management Corp bought a new stake in Cohen & Steers during the 1st quarter valued at approximately $46,000. State of Wyoming raised its stake in Cohen & Steers by 42.0% during the 2nd quarter. State of Wyoming now owns 828 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 245 shares during the period. Global Retirement Partners LLC raised its stake in Cohen & Steers by 31.1% during the 1st quarter. Global Retirement Partners LLC now owns 1,180 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 280 shares during the period. Quantbot Technologies LP raised its stake in Cohen & Steers by 130.4% during the 1st quarter. Quantbot Technologies LP now owns 788 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 446 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Cohen & Steers during the 1st quarter valued at approximately $89,000. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Trading Down 2.6 %

The firm has a 50 day moving average of $61.95 and a 200-day moving average of $60.59. The company has a market cap of $2.60 billion, a P/E ratio of 18.21 and a beta of 1.35.

About Cohen & Steers

(Get Free Report)

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.